Westgold Resources Limited - Mining Commences at South Junction
14.93m @ 15.95g/t Au in drill hole 24SJDD029
PERTH, Sept. 5, 2024 - Westgold Resources Limited (ASX: WGX) (TSX: WGX) (OTCQX: WGXRF) (Westgold or the Company) is pleased to announce the commencement of mining of the South Junction Lode within the Bluebird-South Junction mining complex at Meekatharra.
Highlights
Mining of the South Junction Lode has commenced - ramp up targets a 100kt per month run rate for the Bluebird-South Junction mine by Q3 FY25.
Drilling across South Junction continues to extend the system - with further recent significant intersections including:
- 14.93m @ 15.95g/t Au in hole 24SJDD029
- 6.83m @ 15.31g/t Au in hole 24SJDD027
- 13.00m @ 3.65g/t Au in hole 24SJDD032
- 11.42m @ 4.92g/t Au in hole 24SJDD029
- 8.95m @ 4.01g/t Au in hole 24SJDD026
South Junction Resource Definition drilling program continues - with 2 surface rigs targeting deeper extensions of the South Junction and Polar Star Lodes around 800m below surface.
Westgold Managing Director and CEO Wayne Bramwell commented:
"Drilling continues to unlock value and point to the potential scale of the Bluebird-South Junction mining complex at Meekatharra.
The commencement of mining on the South Junction Lode is a company milestone, achieved in short order by a focussed team. This lode is one of many mineralised lodes being tested across the Bluebird-South Junction mining complex, with the Polar Star Lode the next target to being evaluated.
Westgold can now contemplate a significantly larger, multi-decline mining complex emerging on the doorstep of our 1.6-1.8Mtpa processing plant. Each new mining front we define can increase mine output, with the continued expansion of Bluebird-South Junction providing new opportunities to reduce haulage and optimise processing infrastructure across our Murchison business".
Mining Commences in South Junction lode
Sub-level open stoping commenced in August 2024 on the South Junction Lode, within the Bluebird-South Junction mining complex at Meekatharra.
The Bluebird-South Junction mining complex sits on the southern end of a circa 6.5km long line of lodes that has seen extensive open pit mining (Figure 1).
Capital mine development to exploit the South Junction Lode is now being established and once complete will see the Bluebird-South Junction mining complex become the primary ore source for the nearby Bluebird processing plant. Multiple underground diamond drill rigs are completing grade control drilling on the South Junction Lode ahead of the planned ramp up in production.
Infrastructure upgrades are underway to support the increase in production from Bluebird-South Junction with recent drill intercepts continuing to extend the strike length and down dip depth of the South Junction Lode, providing significant potential upside to the current plan.
Drilling has intersected other mineralised lodes within the South Junction system, including the Polar Star Lode which is located directly east of the South Junction Lode. Polar Star is presently defined by multiple high grade drill intercepts and has been defined over 600m in strike whilst remaining open to the south and down dip (Figure 2).
The Company is targeting the release of an updated Polar Star Mineral Resource Estimate in Q3 FY25 in parallel with mining studies.
Ongoing Resource Definition Drilling Program
Further to the ASX announcements of 14 May and 2 July 2024, Westgold has continued with the extensional exploration / resource definition drilling program under the historic South Junction and Bluebird open pits at Meekatharra. The aim of this program, which commenced in mid-January 2024 and to date has totalled 29, 455m of drilling from surface, is to test and define the down-plunge extents of the multiple orebodies which historically produced +1Moz from open pits and is currently being mined from underground by Westgold (refer Figure 3).
South Junction hosts numerous mineralised zones broadly located on sub-parallel north-northeast-trending shears within a mafic-ultramafic rock package intruded by the Polar Star Porphyry. These zones from west to east are, Edin Hope Lode, South Junction Lode, Polar Star Lode and Archenar Lode.
As previously reported, the drilling results to date have been outstanding with significant intersections being returned from both the Polar Star and South Junction Lode positions. These results have continued to be returned from holes drilled during July and August, with the most significant intersections summarised below and full details provided in Appendix A.
Relative hole positions are shown on Figure 3.
- 14.93m @ 15.95g/t Au in hole 24SJDD029
- 6.83m @ 15.31g/t Au in hole 24SJDD027
- 13.00m @ 3.65g/t Au in hole 24SJDD032
- 11.42m @ 4.92g/t Au in hole 24SJDD029
- 8.95m @ 4.01g/t Au in hole 24SJDD026
The intersection reported in hole 24SJDD029 is the best result of the program to date (238-gram metres) and was returned from the South Junction Lode.
However, of great significance is the intersection in hole 24SJDD027 of 8.83m @ 15.31g/t Au (104-gram metres), being the most southern hole drilled to date with the mineralised system remaining open to the south.
Looking Forward
The South Junction Resource Definition drilling program will continue into Q2 FY25 with two surface rigs in operation. During this period the program will focus on the "deeps" potential with holes targeting the Polar Star and South Junction Lodes at depths of up to 800m below surface (refer Figure 3).
This announcement is authorised for release to the ASX and TSX by the Board.
Competent/Qualified Person Statements
Exploration Results
The information in this release that relates to Exploration results was compiled by Westgold technical employees and contractors under the supervision of Mr. Simon Rigby B.Sc. (Hons), who is a member of the Australian Institute of Geoscientists and who has verified, reviewed and approved such information. Mr Rigby is a full-time employee of the Company and has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the "JORC Code") and as a Qualified Person as defined in the CIM Guidelines and National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Rigby is an employee of the Company and, accordingly, is not independent for purposes of NI 43-101. Mr Rigby consents to and approves the inclusion in this release of the matters based on his information in the form and context in which it appears. Mr Rigby is eligible to participate in short- and long-term incentive plans of the company.
General
Mineral Resources, Ore Reserve Estimates and Exploration Targets and Results are calculated in accordance with the JORC Code. Investors outside Australia should note that while Ore Reserve and Mineral Resource estimates of the Company in this announcement comply with the JORC Code (such JORC Code-compliant Ore Reserves and Mineral Resources being "Ore Reserves" and "Mineral Resources" respectively), they may not comply with the relevant guidelines in other countries and, in particular, do not comply with (i) NI 43-101; or (ii) Item 1300 of Regulation S-K, which governs disclosures of Mineral Reserves in registration statements filed with the SEC. Information contained in this announcement describing mineral deposits may not be comparable to similar information made public by companies subject to the reporting and disclosure requirements of Canadian or US securities laws. The other technical and scientific information in this release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and has been reviewed on behalf of the company by Qualified Persons, as set forth above.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not been materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market announcements.
Forward Looking Statements
These materials prepared by Westgold Resources Limited include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "believe", "forecast", "predict", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control.
Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. In addition, the Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section of the Company's continuous disclosure filings available on SEDAR+ or the ASX, including, in the Company's current annual report, half year report or most recent management discussion and analysis.
Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances.
APPENDIX A - SOUTH JUNCTION JULY-AUGUST 2024 SIGNIFICANT INTERSECTIONS
Hole | Collar | Collar E | Collar RL | Intercept | From (m) | Dip | Azi | Total Length (m) |
24SJDD011 | 7,043,185 | 641,833 | 466 | 1.00m @ 3.13 g/t | 229.00 | -54.7 | 285.8 | 643.7 |
0.73m @ 5.18 g/t | 241.95 | |||||||
5.00m @ 1.82 g/t | 273.00 | |||||||
1.24m @ 22.91 g/t | 456.59 | |||||||
24SJDD014 | 7,043,185 | 641,833 | 466 | 4.00m @ 2.08 g/t | 535.00 | -63.1 | 283.0 | 904.3 |
1.00m @ 6.1 g/t | 542.00 | |||||||
13.30m @ 3.78 g/t | 546.00 | |||||||
4.00m @ 3.46 g/t | 591.00 | |||||||
0.60m @ 6.3 g/t | 615.40 | |||||||
3.86m @ 2.09 g/t | 624.14 | |||||||
0.83m @ 4.92 g/t | 632.17 | |||||||
0.40m @ 80 g/t | 645.46 | |||||||
1.11m @ 29.62 g/t | 645.46 | |||||||
24SJDD018 | 7,042,860 | 641,478 | 465 | 4.00m @ 6.66 g/t | 355.00 | -48.9 | 346.1 | 588.2 |
24SJDD020 | 7,042,860 | 641,478 | 465 | 1.54m @ 7.31 g/t | 156.00 | -43.7 | 350.8 | 611.8 |
1.34m @ 4.99 g/t | 475.50 | |||||||
24SJDD021_W3 | 7,043,405 | 641,939 | 467 | 4.16m @ 1.45 g/t | 573.84 | -64.9 | 290.6 | 850.0 |
5.00m @ 0.80 g/t | 593.00 | |||||||
3.50m @ 4.9 g/t | 711.50 | |||||||
2.22m @ 6.18 g/t | 746.45 | |||||||
24SJDD022 | 7,042,860 | 641,479 | 465 | 1.00m @ 5.50 g/t | 371.00 | -55.6 | 349.6 | 593.6 |
1.00m @ 3.54 g/t | 383.00 | |||||||
0.89m @ 6.84 g/t | 386.30 | |||||||
3.00m @ 7.33 g/t | 408.00 | |||||||
0.25m @ 31.1 g/t | 409.00 | |||||||
24SJDD024_W1 | 7,043,514 | 641,869 | 467 | 1.00m @ 3.84 g/t | 463.00 | -60.7 | 303.3 | 750.0 |
2.72m @ 14.64 g/t | 671.40 | |||||||
6.26m @ 2.96 g/t | 683.60 | |||||||
24SJDD027 | 7042860 | 641,478 | 465 | 2.00m @ 1.24 g/t | 319.00 | -67.4 | 341.8 | 750.0 |
2.00m @ 1.25 g/t | 376.00 | |||||||
1.45m @ 22.06 g/t | 380.51 | |||||||
4.00m @ 2.66 g/t | 387.00 | |||||||
6.83m @ 15.31 g/t | 402.17 | |||||||
1.00m @ 6.76 g/t | 419.00 | |||||||
1.44m @ 15.36 g/t | 432.00 | |||||||
6.00m @ 3.32 g/t | 441.00 | |||||||
3.70m @ 6.98 g/t | 451.00 | |||||||
1.29m @ 16.17 g/t | 553.14 | |||||||
2.50m @ 2.52 g/t | 569.00 | |||||||
3.42m @ 1.42 g/t | 579.58 | |||||||
24SJDD029 | 7,043,303 | 641,879 | 467 | 2.30m @ 1.08 g/t | 185.85 | -53.0 | 282.7 | 675.9 |
1.00m @ 7.9 g/t | 204.00 | |||||||
2.96m @ 1.5 g/t | 421.57 | |||||||
6.50m @ 22.39 g/t | 426.60 | |||||||
2.84m @ 1.68 g/t | 444.03 | |||||||
11.42m @ 4.92 g/t | 561.35 | |||||||
14.93m @ 15.95 g/t | 575.57 |
APPENDIX B - JORC 2012 TABLE 1 - GOLD DIVISION
SECTION 1: SAMPLING TECHNIQUES AND DATA
(Criteria in this section apply to all succeeding sections.)
Criteria | JORC Code Explanation | Commentary |
Sampling techniques |
|
|
Drilling techniques |
|
|
Drill sample recovery |
|
|
Logging |
|
|
Sub-sampling techniques and sample preparation |
|
|
Quality of assay data and laboratory tests |
|
|
Verification of sampling and assaying |
|
|
Location of data points |
|
|
Data spacing and distribution |
|
|
Orientation of data in relation to geological structure |
|
|
Sample security |
|
|
Audits or reviews |
|
|
SECTION 2: REPORTING OF EXPLORATION RESULTS
(Criteria listed in the preceding section also apply to this section.)
Criteria | JORC Code Explanation | Commentary |
Mineral tenement and land tenure status |
|
|
Exploration done by other parties |
|
|
Geology |
| BHO
|
CGO
FGO
HGO
MGO
| ||
Drill hole Information |
|
|
Data aggregation methods |
|
|
Relationship between mineralisation widths and intercept lengths |
|
|
Diagrams |
|
|
Balanced reporting |
|
|
Other substantive exploration data |
|
|
Further work |
|
|
SECTION 3: ESTIMATION AND REPORTING OF MINERAL RESOURCES
(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)
Criteria | JORC Code Explanation | Commentary |
Database integrity |
|
|
Site visits |
|
|
Geological interpretation |
|
|
Dimensions |
| BHO
CGO
FGP
HGO
MGO
STOCKPILES
|
Estimation and modelling techniques. |
|
|
Moisture |
|
|
Cut-off parameters |
|
|
Mining factors or assumptions |
|
|
Metallurgical factors or assumptions |
|
|
Environmental factors or assumptions |
|
|
Bulk density |
|
|
Classification |
|
|
Audits or reviews |
|
|
Discussion of relative accuracy/ confidence |
|
|
SOURCE Westgold Resources Limited
Contact
Investor and media relations enquiries: Investor Relations, Kasun Liyanaarachchi | Investor Relations Manager, investor.relations@westgold.com.au, +61 458 564 483; Media: Peter Knight | Communications Manager, peter.knight@westgold.com.au, +61 459 980 481